You are paying more for less: UK inflation has risen to 2.1 per cent
No doubt certain people will be concocting stories about this later so here it is for our information:
Inflation in Britain accelerated to 2.1 per cent in July, confounding forecasts for a slowdown.
Economists had expected annual inflation to drop to 1.9 per cent from 2 per cent in June. However, official data revealed an increase in consumer price inflation, driven by rises in the prices of computer games, toys, hotel rooms, clothing and shoes.
Analysts said inflation is likely to be supported in the coming months by the recent decline in the pound, sparked by fears of a no-deal Brexit, as well as strong pay growth. Wages rose at the fastest pace in 11 years between April and June compared with a year earlier, according to figures from the Office for National Statistics (ONS) released on Tuesday.
Source: UK inflation leaps to 2.1 per cent in shock rise | The Independent
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Journalists keep reporting that wages have increased by an average of over 3%. Better than nothing, you might think. But they never break down the figures to work out exactly WHO got this increase. I suspect that those at the top of the pay scales got well over average increases leaving those lower down wondering why they did not seem to benefit when all the papers are banging on about how great these pay rises are!
I retired after over 30 years work in a responsible job and I calculate that , throughout that time, I NEVER received a pay rise that exceeded the rate of inflation. NEVER!
I only improved my standard of living by getting annual increments. Not to mention seeing my mortgage payments decline and seeing the kids leaving home to make their own way.
Journalists statistics are useless without explanations. A bit like the Telegraph’s assertion that 54% of Britons support a No-deal Brexit. Useless! Giving a false impression.!
We aint seen nothing yet – wait till the nonsense of Brexit takes effect.